Save on your Energy Bill!

With the price of business electricity currently on the rise many small business owners are unaware they could be paying far too much towards their energy bills.  The vast majority of suppliers are simply rolling their customers’ contracts over into new ones at much higher prices than previously.  There are a number of measures that can be taken to lower your business energy bills including switching to half hourly electricity rates.

Firstly, if you have taken out a business energy contract then you normally have a 56 day termination period before your existing deal expires.  This step is vitally important as failure to do so can result in a 40% price hike or the automatic renewal of your existing contract.  After you have received a termination letter from your supplier then it’s time to start gathering new quotes and finding the best deal available to you.

Currently all the major suppliers are battling for new business and are bending over backwards to offer the best deals.  Quite often the summer period is the perfect time to find the cheapest deals on electricity prices.  With energy rates varying quite dramatically between different suppliers, it’s important to compare prices between suppliers, with many currently offering half hourly electric charges.

The cost of energy is usually at a fixed rate, meaning that if the wholesale price changes, your bill should remain the same.  The result is that you will continue to pay less even if the energy price rises, but the reverse of this is also true and you could end up paying more should the price of energy fall.

If your exiting contract has come to an end, or if you have taken on a new tenancy you will be automatically put onto ‘deemed rates’.  These rates tend to be excessively high so you will need to start looking for some cheaper rates straight away where you’ll be able to bring the price down by as much as 70%.

Finally it’s a good idea to use a reputable energy broker when you’re searching for business electric and gas rates.  The broker knows the industry inside out and will be able to save you money by leveraging the very best deal possible.